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Marcia Erickson, Executive Director
104 Ash Street East
Sisseton, SD 57262
Phone: (605) 698-7654
Fax: (605) 698-3038
Email
Website
Counties Served:
Beadle, Brown, Campbell, Day, Edmunds, Faulk, Hand,
Hyde, Hughes, McPherson, Marshall, Potter, Roberts,
Spink, Stanley, Sully, and Walworth
Incorporated: 1966 |
NESDCAP’s housing
development activities have grown out of its weatherization and home repair
programs. It has worked closely with USDA Rural Development to process Section 504
loans or grants, and through NESDEC it has successfully accessed the Section 502 Direct
Leveraging Loan Program, which can be used for mortgages with terms of generally 33 years
(but as high as 38 years) and interest rates as low as 1%. In 1993, the organization
implemented an Affordable Homes Project, built four new homes and renovated
another. NESDCAP has also participated in the Governor’s Housing Program,
through which it has produced 11 homes, and it has also helped finance a duplex which is
rented to two elderly households. NESDCAP is a CHDO (Community Housing Development
Organization).
NESDEC has a long,
23-year history of business lending, with a revolving loan fund that has directly financed
over $13.2 million in loan activity consisting of 721 loans to 519 area businesses.
Among NESDEC’s other economic development projects are Dakotah, Inc. (a quilting and
handicraft business) and Northeast Livestock Cooperative (which has made loans to nearly
400 struggling farmers). NESDEC has also worked on financing an ethanol plant, and
it recently participated in financing a $5.9 million Dairy Cooperative creating 25 new
jobs with a payroll of about $500,000 per year.
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